This week you will be looking at the Smith Travel Research Trend Repot for January 2014-July 2022. Smith Travel Research (STR) delivers data that is confidential, accurate and actionable, and has comprehensive solutions to empower their clients to strategize and compete within their markets. STR prides themselves on the integrity of their data and the honest and transparent relationships they maintain with clients and each other.
The report we are looking at this week is the Data by Measure, % Change by Measure, and % Change by Year. The information they are looking in these reports are the Occupancy % of the Miami Market, the Average Daily Rate (ADR), the Revenue Per Available Room (RevPAR), the Supply of rooms available, the demand for these rooms, and the Revenue generated.
Data is only as good as the person who is interpreting it. I want you to look at;
• Table 2) By Measure
• Table 3) % Change by Measure
• Table 4) % Change by Year
Using *2) By Measure* tab, you will need to create a line chart which will show growth or decline of the ADR for only July 2014-2022. I do not want to see any other months on this chart.
It will look something like this, however I want the font and colors different so I know it is your work and not mine.
BUT, What does this mean? The graph is important, but now you need to tell me the why. The ADR went down in 2020 (COVID) but lunged in 2021, why? Also looking at the data how did that affect revenue?
Next, again using the *2) By Measure*, I want to see a 2D Bar Chart where you will be comparing 2014-2022 July (ONLY) Supply vs. Demand. It will look something like this, however I want the font and colors different so I know it is your work and not mine.
Again, what does it mean? Obviously, Occupancy & Demand went down in 2020, but what else do we see? If you were going to project 2023 what do you think you will see based on what we have witnessed since 2014?
Template for the Assignment – This is what you will turn in
What does this mean?
Why did the ADR go down in 2020 but lunged in 2021?
Looking at the data how did that affect revenue? Real numbers and what does it mean?
What is the Projection
What does this mean?
Besides Occupancy & Demand going down in 2020, what else do we see?
Project 2023 Occupancy & Demand (Ignoring Covid) what do you